Communications Sales & Leasing,Inc. (NASDAQ:UNIT) had its target price trimmed by Royal Bank Of Canada from $32.00 to $18.00 in a research note released on Monday, MarketBeat.com reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley reissued an overweight rating and issued a $24.00 price objective (down from $34.00) on shares of Communications Sales & Leasing,Inc. in a report on Wednesday, August 23rd. Cowen and Company reissued a buy rating and issued a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a report on Friday, August 25th. Citigroup Inc. downgraded Communications Sales & Leasing,Inc. from a buy rating to a neutral rating in a report on Tuesday, September 26th. Zacks Investment Research downgraded Communications Sales & Leasing,Inc. from a buy rating to a hold rating in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co downgraded Communications Sales & Leasing,Inc. from an overweight rating to a neutral rating in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Communications Sales & Leasing,Inc. presently has an average rating of Buy and a consensus price target of $26.63.

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down $0.25 on Monday, reaching $16.58. The company had a trading volume of 1,338,518 shares, compared to its average volume of 4,220,000. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market capitalization of $2,920.00 and a P/E ratio of 6.68. Communications Sales & Leasing,Inc. has a 52-week low of $13.81 and a 52-week high of $29.65.

COPYRIGHT VIOLATION WARNING: This article was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/11/10/communications-sales-leasinginc-unit-price-target-lowered-to-18-00-at-royal-bank-of-canada.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 14.48%. The ex-dividend date of this dividend is Thursday, December 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio is presently -888.89%.

In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman acquired 2,500 shares of the business’s stock in a transaction on Monday, August 14th. The stock was purchased at an average price of $19.48 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the insider now owns 266,553 shares of the company’s stock, valued at approximately $5,192,452.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel L. Heard acquired 5,400 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $18.54 per share, with a total value of $100,116.00. Following the transaction, the executive vice president now directly owns 40,793 shares of the company’s stock, valued at approximately $756,302.22. The disclosure for this purchase can be found here. Insiders acquired 15,700 shares of company stock valued at $297,116 in the last quarter. 0.39% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new position in shares of Communications Sales & Leasing,Inc. in the 1st quarter valued at about $242,000. Farmers & Merchants Investments Inc. purchased a new stake in Communications Sales & Leasing,Inc. during the 2nd quarter worth approximately $265,000. Crossmark Global Holdings Inc. purchased a new stake in Communications Sales & Leasing,Inc. during the 3rd quarter worth approximately $316,000. IFP Advisors Inc increased its holdings in Communications Sales & Leasing,Inc. by 12.6% during the 2nd quarter. IFP Advisors Inc now owns 14,132 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 1,585 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Communications Sales & Leasing,Inc. during the 1st quarter worth approximately $479,000. Hedge funds and other institutional investors own 67.46% of the company’s stock.

About Communications Sales & Leasing,Inc.

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

Analyst Recommendations for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

Receive News & Stock Ratings for Communications Sales & LeasingInc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Communications Sales & LeasingInc. and related stocks with our FREE daily email newsletter.